Fraport AG v the Republic of the Philippines (ICSID Case No. ARB/03/25) - Award
Article from: TDM 5 (2007), in Case Comments & Awards
The investment at issue in this arbitration was made by the Claimant, a German company incorporated as Fraport AG Frankfurt Services Worldwide ("Fraport" or the "Claimant"), which has established itself as a leader in the international airport business. The Claimant's investment was made in a Philippine company, Philippine International Air Terminals Co., Inc., later known as PIATCO. Fraport's investment in PIATCO, both as a shareholder and lender, was influenced by the fact that the Respondent had, prior to the investment at issue, conferred upon PIATCO the concession rights for ...